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Petrobras changes oil and gas production and investment forecast for 2023

Written by Paulo Nogueira
Published 10/11/2023 às 14:32
Petrobras, review, production, oil, gas, CAPEX, 2023, CVM Resolution, million boed, investment
FPSO Almirante Barroso

Petrobras is checking their estimates for the production de oil e gas, as well as for the value of the investment scheduled for the year 2023. This review represents a more detailed analysis of the projections, taking into account market conditions and operational challenges.

This guidance review is a Petrobras strategy to ensure that projections are aligned with market reality and the company's goals. With this, the company seeks to ensure that investments are directed efficiently and that oil and gas production is optimized, maximizing returns for shareholders and contributing to the development of the energy sector in Brazil.

Petrobras changes preview de production by petroil e gas quality investments for 2023

A Petrobras announced a review in your projections to production de oil e gas and for the CAPEX planned for the year 2023. The changes were motivated by factors such as the conditions of market and plans for investment in new projects.

According to CVM Resolution nº 44, of August 23, 2021, to Petrobras reported that it carried out a review in its guidance production own oil e gas, as well as in your CAPEX for the year 2023. The changes were motivated by the good performance No. third quarter de 2023 and forecasts of ramp-ups and entries of new wells in the fourth quarter of the same year.

With respect to production own total of oil e gas, there was an increase in values, going from 2,6 to 2,8 million boed. A production commercial de oil e gas also increased from 2,3 to 2,4 million boed, Ea production de oil and NGL increased from 2,1 to 2,2 million bpd. These revisions took into account forecasts of performance future, with a variation margin of ± 2%.

In relation to the CAPEX total company, the new guidance is now US$ 13 billion in 2023, an increase of more than 30% compared to 2022. The reduction compared to the US$ 16 billion initially planned is due to lower expenditure in the exploration e production de oil e gas, influenced by the challenging post-pandemic. Despite this reduction, the Petrobras ensures that the target of production planned for 2023 will not be compromised.

As projections future of Petrobras are based on reasonable beliefs and assumptions of the Business Administration, as well as information currently available. However, it is important to highlight that the statements and information about the company's future contained in this Material Fact should not be interpreted as guarantees or promises of performance, as they are subject to risks e uncertainties related to the economic, regulatory and competitive conditions of the countries where the Petrobras operates, as well as its strategic and operational decisions.

For more information about the projections da Petrobras, including its monitoring and possible changes, interested parties can consult the Reference Form, which will be updated according to the regulation applicable. This form will be available on the CVM websites (www.cvm.gov.br), the B3 SA – Brasil, Bolsa, Balcão (www.b3.com.br) and the company.

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Source: Petrobras

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Paulo Nogueira

An electrical engineer graduated from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), I worked for several years in the areas of offshore oil and gas, energy and construction. Today, with over 8 publications in magazines and online blogs about the energy sector, my focus is to provide real-time information on the Brazilian employment market, macro and micro economics and entrepreneurship. For questions, suggestions and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes for this purpose.

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